✓ Attractive Interest Rates ✓ Repayment Tenure of up to 3 Years ✓ Smooth Online Process 

**Disclaimer: L&T is not a Bajaj Markets’ partner. Offers would be from partner Banks/NBFCs only.

 

The younger generations have always had great aspirations of owning a two wheeler. This also comes with the added goal of buying a two wheeler from their own money. A two wheeler loan is something that can help you fulfill both these dreams.  Many exciting and affordable two wheeler loans are available in the Indian market. Choosing the one that will not become a burden in your life and won’t disrupt your monthly budget is important. Interest rates play a major role in determining the monthly EMI you have to pay. It is here that the  L&T Two Wheeler Loan acts like a knight in shining armor and rescues you from burning your pockets. If you are someone who is planning to buy a bike anytime soon by availing a two wheeler loan, take a look at the L&T Two Wheeler Finance options available.

L&T Two Wheeler Loan Interest Rate

L&T finance loan payments are quite affordable due to its competitive interest rates. Depending on the profile and creditworthiness of the borrower, L&T Bike Loan interest rate changes from person to person. Take a look at the L&T Finance Two Wheeler Loan details here. 

Interest Rate

Starting from 7.99% per annum

Minimum Loan Amount

Rs. 10,000

Maximum Loan Amount

Rs. 5 Lakhs

Repayment Period

Up to 4 years

Minimum Income Requirement

As per the requirement of financial institution 

Processing Fee

As per the financial institution’s terms and conditions

Prepayment Charges

As per the financial institution’s terms and conditions

*Interest rates and charges are subject to market conditions and financial institutions' discretion.

Features & Benefits of L&T Two Wheeler Loan

  • Quick Loan Approval: All L&T Bike Loans are processed and approved quickly without keeping the borrowers on edge. 

  • Simple Procedure: You can have a quick and easy loan disbursement experience with very minimal documentation.

  • No Income Proof: You can avail L&T  Finance Two Wheeler Loans without any income proof (This varies from bank to bank).

  • 95% Funding:  In certain conditions, you can avail funding up to 95% of the on-road price while using  L&T  Finance Two Wheeler Finance.

  • Loans For All:  L&T  Finance Two Wheeler Loan options are available for salaried as well as self-employed individuals.

L&T Bike Loan Eligibility Criteria

You have to satisfy the below-mentioned eligibility criteria to avail an L&T Bike Loan. 

Nationality

The applicant must be an Indian citizen.

Age

The applicant must be between 18 and 66 years.

Employment

Salaried or self-employed individuals or pensioners drawing their pensions from L&T Finances.

Credit Score

The applicant must have a credit score of 750 or above.

L&T Finance Two Wheeler Loan EMI Calculator

You can use the L&T Finance Two Wheeler Loan EMI calculator to calculate the monthly EMI you have to pay if you get a L&T Two Wheeler Loan. Enter your principal amount, interest rate, and loan tenure in the online calculator and click on ‘Calculate’. It will display your monthly EMI along with the total interest you have to pay. Calculating your EMI and comparing it with other two wheeler loan schemes offered by different financial institutions before choosing one will help you manage your finances.

How to Apply for L&T Two Wheeler Loan?

You can easily apply for a L&T Two Wheeler Loan online. Follow a few simple steps mentioned below to apply for one;

Step 1: Visit the L&T Finance website. 

Step 2: On the ‘Contact Us’ menu, fill in details like your name, email id, mobile number and city.

Step 3: Tick the box to agree to the terms and conditions of the loan.

Step 4: Scroll down and use the sliders to enter the principal amount, interest rate, and the loan tenure.

Step 5: Click on ‘Calculate’ and find the monthly EMI you have to pay.

Step 6: If it is suitable for you, you can click on the ‘Apply Now’ button.

Step 7: You will be redirected to a fresh web page where you have to fill in first name, last name, mobile number, email ID, product category (Two Wheeler Loan, in this case) and few other details.

Step 8: In the ‘Subject’ tab, choose whether you want a phone or email communication from L&T Finance.

Step 9: Click on the ‘Submit’ button, and your request will be processed thereafter.

Step 10: L&T Financial Service assistants will reach you and discuss your loan requirements accordingly.

Documents Required for L&T 2 Wheeler Loan

Here is a complete list of the documents required to apply for a L&T Two Wheeler Loan.

Documents

Without Income Proof

With Income Proof

Proof of Identity

Voters ID card/Aadhaar card/ Passport/ Driving licence/ PAN card

Voters ID card/Aadhaar card/ Passport/ Driving licence/ PAN card

Proof of Residence

Utility bills like electricity bill, gas passbook, etc/Passport

Utility bills like electricity bill, gas passbook, etc/Passport

Proof of Income

-

  • Statement of Bank Account/ Passbook for last six months.

  • For salaried employees: Form 16/IT returns for the last two financial years.

  • For self-employed professionals: IT returns for the last three years.

Other Documents

2 cheques in case of paper mandate

2 cheques in case of paper mandate

L&T Two Wheeler Loan FAQs

  • ✔️How much interest is charged by L&T Finance on a two wheeler loan?

    L&T Finance Bike Loan interest rate starts from 7.99%.

  • ✔️Is age an eligibility factor to get a two wheeler loan from L&T Finance?

    Yes, age is an eligibility factor to get a two wheeler loan from L&T Finance. An applicant should be between 18 -66 years.

  • ✔️How much is the processing fee charged by L&T Finance on bike loans?

    The processing fee charged by L&T Finance on bike loans is as per the terms and conditions of the financial institution.

  • ✔️How can I pay the EMI for a L&T Finance Two Wheeler Loan online?

    You can visit the L&T Quick Pay services available on their website for L&T Finance Loan EMI payment online.

  • ✔️Do self-employed individuals provide a guarantee to get a bike loan from L&T Finance?

    Yes, self-employed individuals have to provide a guarantor, preferably someone who has a good credit score.

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